The Main Street Lending Program has ceased purchasing participations in eligible loans.
Recent Updates
- The Main Street Lending Program and the United States Department of the Treasury have agreed that each year in November and May, MS Facilities LLC (SPV) will return to the Treasury any preferred equity funds that are in excess of the SPV’s outstanding loans from Federal Reserve Bank of Boston until the preferred equity investments fall to $1 billion or less. On November 17, 2023, the MSLP returned $2.2 billion to Treasury, reducing Treasury’s remaining cash contributed to the facility to $7.4 billion.
- The Main Street Lending Program and the United States Department of the Treasury have agreed that each year in November and May, MS Facilities LLC (SPV) will return to the Treasury any preferred equity funds that are in excess of the SPV’s outstanding loans from Federal Reserve Bank of Boston until the preferred equity investments fall to $1 billion or less. On May 19, 2023, the MSLP returned $1.8 billion to Treasury, reducing Treasury’s remaining cash contributed to the facility to $9.7 billion.
- On March 24, 2023, the Federal Reserve Board of Governors posted updated audited financial statements for MS Facilities, LLC formed in connection with the implementation of the Main Street Lending Program.
- The Main Street Lending Program and the United States Department of the Treasury have agreed that each year in November and May, MS Facilities LLC (SPV) will return to the Treasury any preferred equity funds that are in excess of the SPV’s outstanding loans from Federal Reserve Bank of Boston until the preferred equity investments fall to $1 billion or less. On November 18, 2022, the MSLP returned $2.4 billion to Treasury, reducing Treasury’s remaining cash contributed to the facility to $11.5 billion.
- The Main Street Lending Program and the United States Department of the Treasury have agreed that each year in November and May, MS Facilities LLC (SPV) will return to the Treasury any preferred equity funds that are in excess of the SPV’s outstanding loans from Federal Reserve Bank of Boston until the preferred equity investments fall to $1 billion or less. On May 20, 2022, the MSLP returned $1.8 billion to Treasury, reducing Treasury’s remaining cash contributed to the facility to $13.9 billion.
- On January 7, 2022, the Main Street Post-Termination FAQs were amended to include information about modifying Main Street loans in connection with the LIBOR transition (FAQ J.11).
- The Main Street Lending Program and the United States Department of the Treasury have agreed that each year in November and May, MS Facilities LLC (SPV) will return to the Treasury any preferred equity funds previously invested by Treasury that are in excess of the SPV’s outstanding loans from Federal Reserve Bank of Boston until the preferred equity investments fall to $1 billion or less. On November 19, 2021, the first such regularly scheduled return of equity, the MSLP returned $897.6 million to Treasury, reducing Treasury’s remaining cash invested in the facility to $15.674 billion.
- On July 29, 2021, FAQ H.18 of the Main Street Post-Termination FAQs was updated to provide clarifications regarding the applicability of the Borrower Certifications and Covenants, including the restrictions that apply to direct loan programs under the CARES Act, if an eligible borrower or its assets are sold. See a comparison to the previous Main Street FAQs.
- The Federal Reserve Bank of Boston has posted additional information regarding vendors for the Main Street Lending Program on the vendor page; specifically, a quarterly report reflecting fees approved for payment to the vendors supporting the program.
- An integrity hotline has been established for reports of fraud, waste, abuse, misrepresentations, illegal activity or unethical behavior associated with the facilities established by the Federal Reserve and administered by the Federal Reserve Bank of Boston to support the economy and promote the stability of the financial system in response to the COVID-19 pandemic. To make a report, please call 844-978-1252.
Program Details
Program Administration
The Federal Reserve’s Main Street Lending Program is administered by the Federal Reserve Bank of Boston, which established the Main Street SPV to purchase loan participations from eligible lenders in any of the twelve Federal Reserve districts.
Boston Fed Integrity Hotline: 844-978-1252
An integrity hotline has been established for reports of fraud, waste, abuse, misrepresentations, illegal activity or unethical behavior associated with the facilities established by the Federal Reserve and administered by the Federal Reserve Bank of Boston to support the economy and promote the stability of the financial system in response to the COVID-19 pandemic. To make a report, please call 844-978-1252. The Boston Fed Integrity Hotline is administered by a third-party vendor to ensure the anonymity of those who choose to remain anonymous.
Program Details
Program Administration
The Federal Reserve’s Main Street Lending Program is administered by the Federal Reserve Bank of Boston, which established the Main Street SPV to purchase loan participations from eligible lenders in any of the twelve Federal Reserve districts.
Boston Fed Integrity Hotline: 844-978-1252
An integrity hotline has been established for reports of fraud, waste, abuse, misrepresentations, illegal activity or unethical behavior associated with the facilities established by the Federal Reserve and administered by the Federal Reserve Bank of Boston to support the economy and promote the stability of the financial system in response to the COVID-19 pandemic. To make a report, please call 844-978-1252. The Boston Fed Integrity Hotline is administered by a third-party vendor to ensure the anonymity of those who choose to remain anonymous.
Resources
Audited Financial Statements
Audited financial statements for MS Facilities LLC, formed in connection with the implementation of the Main Street Lending Program. The financial statements cover the period from January 1, 2023 to December 31, 2023.
Lender Portal
Portal for registered lenders in the program
Listing of Participating Lenders
List of lenders that are registered in the Main Street Lending Program.
Disclosures
Reports on the operation of the MSLP facilities, including monthly disclosure of names of lenders & borrowers, amounts borrowed, etc. These reports are made to Congress pursuant to CARES Act & Section 13(3) of the Federal Reserve Act.
MSLP Dashboard Report
An interactive dashboard report providing a visual depiction of the MSLP’s usage, including a geographic distribution of MSLP loans.
Forms & Agreements
Legal forms and agreements for registered lenders and eligible borrowers
Main Street Post-Termination Frequently Asked Questions
Questions and answers providing more information on the program
Terms & Conditions
Information on eligibility and terms
Facility Agreements
Documents related to the establishment of the SPV and the U.S. Treasury’s equity investment
Vendors
Information on vendors supporting the Main Street Lending Program